2 May 2016
Promoter – Financial Intermediary
Construction of two 40MW net output solar photovoltaic (PV) power plants near Eldoret, Western Kenya. The projects are being developed as independent power producers (IPPs) under the feed-in tariff regime in Kenya. The two projects will have shared facilities and services and will supply electricity to the national grid.
The proposed operation is in line with the strategic objectives set for the Bank's external mandates in general (environmental sustainability, climate change mitigation), the Cotonou Agreement - in particular Article 21 concerning investment - and private sector development. The operation will also contribute to the Bank's priority energy lending objectives related to renewable energy. In addition, the 11th EDF National Indicative Programme for Kenya (2014-2020) includes a focus on sustainable infrastructure. The projects are also fully in line with the country's objectives as Kenya's second medium-term plan (2013-2017), aiming to implement Kenya's Vision 2030, explicitly targets increasing the share of power generated from green sources.
- Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
USD 53 million (EUR 48 million)
Total cost (Approximate amount)
USD 148 million (EUR 134 million)
Environmental and social impact assessments (ESIAs) have been prepared for the two PV plants and have been submitted to the competent authority NEMA (National Environmental Management Authority) for approval. Compliance with the environmental and social standards of the EIB including, amongst others, the principles of relevant EU directives will be verified during appraisal.
The Bank will require the promoters to ensure that project implementation will carried out in accordance with the Bank's Guide to Procurement.
Signed - 14/09/2018